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Bill would clarify titles and sales-tax treatment for self-propelled farm equipment; bankers ask for lien-transition language
Summary
Sen. Dan McKeon asked the committee to approve LB 490, a technical statutory change to permit titles for self-propelled agricultural equipment used exclusively off-road without triggering sales tax, addressing inconsistent county treasurer practice.
Sen. Dan McKeon introduced LB 490 to clarify that certain self-propelled agricultural equipment used exclusively off-road — examples cited included self-propelled feed trucks, fertilizer applicators and other implements of animal husbandry — may be issued certificates of title without triggering sales tax that would otherwise apply to titled motor vehicles.
“LB 4 90 clarifies any questions about which taxes are to be paid, allowed for the titles to be issued at the point of sale without paying sales tax for the equipment…
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